This stock cashes in, thanks to Apple: Cramer

With the launch of Apple Pay on Monday, we may be witnessing the end of the modern day wallet.

It's also the end of back pains for "Seinfeld" George Costanza and his giant wallet.

Source: Seinfeld | Sony Pictures

Apple Pay could help George Constanza.

One stock in particular that Jim Cramer thinks will benefit from the move is VeriFone. It makes point-of-sale terminals compatible with the touchless technology behind Apple Pay and is right in the epicenter of this retail transition.

To Cramer, Apple Pay represents the vanguard of the payment revolution. Stores will need the right kind of equipment if they are going to accept Apple Pay, which Cramer thinks society will demand.

Everyone from Visa and Mastercard to NXP Semiconductors stands to benefit from Apple Pay. Basically, anyone involved with consumers waving their phone at a payment terminal and having it become a processed and encrypted transaction.

"Right now I think we're standing at the beginning of a major upgrade cycle when it comes to point of sale terminal technology," said the "Mad Money" host.

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Though VeriFone is up more than 26 percent year to date, it could have a lot more upside. In fact, in the long term, if Cramer is right about the point of sale upgrade cycle, then he expects this stock to have a 40 percent increase over its current price.

There's even more in the pipeline, as it's not just Apple Pay that will boost VeriFone. From a security perspective, in 2015 credit cards will be coming out with new regulations that puts the responsibility for security breaches onto retailers. Credit cards will require the use of EMV chips to be installed into the cards, so that they cannot be duplicated.